伯恩斯坦认为欧洲大型石油公司具有吸引力浓浆泵

据道琼斯6月25日消息，不要因油价大幅下跌而远离那些大型石油公司的股票。伯恩斯坦称，现在看来，很多欧洲大型石油公司都比油价在每桶110美元时更有吸引力。该机构预计，未来五年，欧洲大型石油公司的平均自由现金流收益率将为5.3%，而2012年以来这一数字为-0.2%。伯恩斯坦称：“整体来看，我们坚信资本支出在2013年达到最高水平的大型石油公司之前低效的资本支出如今将有良好表现，这些公司如今的资产组合递减率处于低位，并将产生正的自由现金流。”伯恩斯坦公司最为看好的欧洲大型石油公司是高浦和壳牌与英国天然气集团合并后的企业。

唐绍红摘译自道琼斯

原文如下：

DJ Europe's Big Oil Companies Look Attractive, Says Bernstein

[Dow Jones]--Don't let the oil price rout put you off the big producing companies. According to Bernstein, many of Europe's biggest oil companies look more attractive now than they did when oil was at $110 a bar切丁机rel. The brokerage predicts the companies will average a free cash flow yield of 5.3% over the next 5 years, compared with -0.2% since 2012. "Overall, we are firm believers that the Integrateds reached peak capex in 2013, have material unproductive capital employed set to produce, have low decline rate portfolios now, and positive FCF generation coming," Bernstein says. Its top two picks are Galp and the Shell-BG combin数字仪表ation.